Which of the Following Is True of Dummy Variables

question 25

Multiple Choice

Which of the following is true of dummy variables?

• A)A dummy variable always takes a value less than 1.
• B)A dummy variable always takes a value higher than 1.
• C)A dummy variable takes a value of 0 or 1.
• D)A dummy variable takes a value of 1 or 10.

Understand the role of culture and gender in international business environments.

Identify strategic management practices in international settings.

Understand the concept and applications of exporting in international trade.

Grasp the essence of cross-cultural training and its implications for global business operations.

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Definitions:

Express Authority

Authority expressly given by one party to another. In agency law, an agent has express authority to act for a principal if both parties agree, orally or in writing, that an agency relationship exists in which the agent has the power (authority) to act in the place of, and on behalf of, the principal.

Exclusive Territory

A designated area or market granted to an individual or entity with the exclusive right to sell or distribute goods or services within it.

Duty of Cooperation

An obligation between parties in a contract to act in good faith and assist each other in fulfilling the contract's terms.

Breach of Duty

Failure to fulfill a legal obligation or duty, leading potentially to legal liability.